Stephen Bainbridge's Journal of Law, Religion, Politics, and Culture

08/13/2012

Just in case you thought bringing back Glass-Steagall is a good idea

Consider how much trouble the regulators are having writing the Volcker rule:

In October of 2011, the SEC, CFTC and the banking agencies issued a joint notice of proposed rulemaking to implement the Dodd-Frank version of the Volcker Rule. In a clear sign of the trouble regulators are having, noted House Financial Services Chair Spencer Bachus (R-ALA), their joint proposal runs 300 pages and asks more than 1,300 questions of market participants on nearly 400 topics.

Anybody who thinks the politics of bringing back Glass-Steagall would be simpler needs to have head examined.

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Just in case you thought bringing back Glass-Steagall is a good idea

Consider how much trouble the regulators are having writing the Volcker rule:

In October of 2011, the SEC, CFTC and the banking agencies issued a joint notice of proposed rulemaking to implement the Dodd-Frank version of the Volcker Rule. In a clear sign of the trouble regulators are having, noted House Financial Services Chair Spencer Bachus (R-ALA), their joint proposal runs 300 pages and asks more than 1,300 questions of market participants on nearly 400 topics.

Anybody who thinks the politics of bringing back Glass-Steagall would be simpler needs to have head examined.